Energy Joint Venture Leads to Win-Win Results

International cooperation leads to win-win results for China and its partners.

Lines of pumping machines are working in extremely cold weather and against heavy snow in fields outside a city in Udmurtia, Russia. That's where Udmurtia Petroleum Corp (UDM), an energy joint venture between Russia and China, is located.

The company was jointly established by China Petrochemical Corporation (Sinopec Group) and Rosneft Oil, a Russian oil giant, in 2006.

Owning 38 oilfields with more than 4,000 wells, it was the first of its kind invested by a Chinese enterprise and has had the most output among still-operating oilfield projects.

The Russian side with developed oilfield exploration and development technologies and the Chinese side owning mature oilfield delicacy management and energy-saving and cost-reducing technologies are well-suited partners, which has gained them win-win results.

In the past 15 years, the company developed new methods to improve output and efficiency of old oilfields, which kept it in low-cost and high-benefit operations against the impact of the COVID-19 outbreak.

The general manager of UDM once described the relation between the Chinese and the Russian sides as a pair of chopsticks: both of them are necessary to the achievement. He also said that Sinopec Group has played a key role in improving production efficiency thanks to its optimized management mode.

It's worth mentioning that the company also adheres to environmental protection principles. According to Yang Huaiyi, general manager of Sinopec Group's branch in Russia, sensors are installed in the oilfields to record data of waste water and combustible gas. With strict security production monitoring and environmentally-protective treatment, the oilfields have met the company's goals of zero emissions, pollution and errors for years.

In addition to self-development and contributions to local economic growth, the company also fulfilled its social responsibilities.

It built 125 outdoor playgrounds for children in local neighborhoods and sports facilities in 105 kindergartens and primary schools, and also provided school buses, which gained it thumbs-up from the local government and people.

(Executive editor: Wang Ruoting)